State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale financial accounts of the stressed companies. The move by these state-owned banks is aimed to recover dues of around...
Feb 11, 2019
With the Supreme Court upholding the constitutional validity of the insolvency law and the Government of India directing lenders to resolve insolvency cases at earliest, the founders of the...
Jan 31, 2019
State Bank of India (SBI) chairman Rajnish Kumar said Section 29A of Insolvency and Bankruptcy Code (IBC) is being “stretched too far” and needs more clarity. Section 29A of IBC lays down a...
Jan 18, 2019
The ever-falling rupee has aroused concerns in the market. However, a report by the State Bank of India and Nomura Holdings Inc. says Reserve Bank of India has enough money to defend the rupee...
Sep 20, 2018
The country's largest bank, State Bank of India announced that Prashant Kumar has taken charge as the Chief Financial Officer (CFO) of the bank. He was appointed to the position after...
Sep 17, 2018
The Government of India and banks, on Monday, came up with a new strategy to revive stressed assets outside the Insolvency and Bankruptcy Code (IBC). It includes mechanisms like asset...
Jul 03, 2018
The country's largest bank SBI will conduct auction of 12 non-performing accounts (NPAs) on June 25. The move is aimed at recovering dues of over Rs 13.25 billion. The accounts which...
Jun 11, 2018
There is a need to empower boards of public sector banks (PSBs) so that it works in an environment free from political interference, suggest some industry people. According to them,...
Mar 27, 2018
State Bank of India (SBI) wrote off bad loans worth Rs 20,339 crore in 2016-17, shows a government data. The amount is the highest among all the public sector banks, whose cumulative write...
Feb 12, 2018
State Bank of India (SBI) has changed the names and IFSC codes of over 1200 branches across the country. The changes have also been made to the branches of banks which were merged a few...
Dec 08, 2017
State Bank of India chairman Rajnish Kumar has termed the Government of India’s recapitalisation package as positive for the banking system and the economy. The government, in the last week...
Nov 07, 2017
SBI has cut home loan and auto loan rates by 5 basis points, which will be effective from November 1. This is the first time in 10 months that the country’s largest bank has announced cut in its...
Nov 02, 2017
The country’s economy is likely to rebound in coming quarters, and according to SBI chairperson Arundhati Bhattacharya, Indian banks would need more funds to provide businesses with loans as and when...
Sep 25, 2017
The fall in GDP growth rate to a three-year low of 5.7 per cent in the first quarter of 2016-17 shows that the problem is more structural than transient, says a report. The dismal growth...
Sep 11, 2017
State Bank of India accounts for over 27 per cent of the total amount owed to public sector banks by wilful defaulters. As on March 31, there were about 1,762 wilful defaulters, who owed Rs...
Aug 21, 2017
Expressing concern over “stress” in the telecom sector, four leading banks have asked the government to hike liquidity in troubled telecom companies. In a meeting with an inter-ministerial group (...
Jun 15, 2017
As the first generation of reforms completes 25 years, this seems like an opportune time for second generation reforms encompassing vital sectors such as banking, bureaucracy, judiciary and industry...
Jun 07, 2017
SBI Chairman Arundhati Bhattacharya has recommended a six-point action plan to the Department of Telecom (DoT) to address “highly unsustainable” stress levels of the sector. The country’s largest...
Jun 02, 2017
As State Bank of India (SBI) chairman Arundhati Bhattacharya’s extended term comes to an end on 6 October, the finance ministry has initiated the process to find the new chief of the country’s...
May 29, 2017
SBI is of the view that India may not soon witness a rating upgrade. In its report, the bank has also termed global credit rating agencies’ arguments for not upgrading India’s rating as ‘...
May 12, 2017
You will soon have to pay a penalty on non-maintenance of minimum balance in your SBI accounts from April 1. State Bank of India (SBI) has decided to levy penalties for defaulters based on the...
Mar 06, 2017
Effective March 1, State Bank of India (SBI) has slashed interest rates on term deposits with maturities of between 180 days and one year, and between 456 days and three years. As per the revised...
Mar 03, 2017
As part of a consolidation exercise, about 1,500 branches of State Bank of India (SBI) and its five associate banks — State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of...
Mar 02, 2017
With the Union Budget 2017 just around the corner, both India Inc and industry experts want the government to slash corporate tax by 5 per cent to bring it down to 25 per cent from the current 30 per...
Jan 24, 2017
India’s largest bank, State Bank of India, could retain about 15 per cent to 40 per cent of the deposits that happened after demonetization. The Government of India, on November 8 last year...
Jan 20, 2017
The State Bank of India has planned to waive merchant discount rate (MDR) charges completely on debit card transactions for a period of one year — till 31 December 2017. The discount will be...
Jan 11, 2017
Home loan seekers may ring in New Year with some good news from mortgage companies. Slump in the cost of funds in the aftermath of demonetization should set these firms to embark on an interest...
Dec 28, 2016
Faced with increasing reports of security breaches, banks in India plan to either replace or ask users to change the security codes of their debit cards. There are reports of as many as 3.2...
Oct 20, 2016
India’s largest public sector bank, State Bank of India is set to become a bank of global size. Its board of directors has given approval to the scheme of arrangement for the merger of SBI with...
Aug 30, 2016
“I want to see actual cash, not ifs and buts.” SBI Chairman Arundhati Bhattacharya is not convinced by Kingfisher chairman Vijay Mallya’s offer to settle with banks. Last month, Mallya had...
May 03, 2016
Kingfisher Airlines chairman Vijay Mallya has presented a repayment plan offering to pay Rs 4,000 crore to settle all claims. He has offered to pay the dues by September 2016. Mallya landed...
Mar 31, 2016
Trouble seems to be mounting up for Vijay Mallya. In another jolt to the industrialist, a consortium of 17 public-sector banks, led by SBI, today moved the Supreme Court to restrain the liquor...
Mar 08, 2016
State Bank of India raised Rs 3,000 crore from Basel III compliant, Tier-ll bonds, in the nature of debentures. The bonds have been issued at a face value of Rs 10 lakh each at par and have a 10-...
Feb 19, 2016